IMF official flags rewards and risks of closer Asean integration

Tokyo

CONVERGENCE of Asean economies will bring opportunities for raising growth and productivity in South-east Asia but it will also entail increased risk in financial and other sectors of the regional economy, first deputy managing director of the International Monetary Fund David Lipton said in Kuala Lumpur on Thursday.

The outlook for Asean is "not without risks" as it moves towards closer economic and financial integration, Mr Lipton told a gathering of Asean central bankers hosted by Bank Negara Malaysia governor Zeti Akhtar Aziz.